Components of Human Resources Management
Human Resource Management is the process of managing people in an organization in a systematic and organized manner. It is a process which involves around four basic functions- acquisition, development, motivation and maintenance of human resources. The main goal of Human Resource management maximizes the productivity by enhancing the efficiency of employees in an organization. The basic influencing factor of these components is organizational goal because such activities are to be performed within the given constraints in order to accomplish the task.
These four elements or factors of HRM can be described as follows:
Acquisition function is concerned with recruitment and selection of manpower requirement for an organization. It ensures that the company has the right number of people at the right place and at the right time who are capable to complete required work. Acquisition is primarily concerned with planning, recruitment, selection and socialization of employees.
Development phase begins after the socialization of newly appointed employees in an organization. It is concerned with imparting knowledge and skill to perform the task properly. It can be done through teaching, coaching, class-room courses, assignments, professional programs and so on. The ultimate goal of employee development is of course to enhance the future performance of the organization by the efficient employees.
Only training and development do not inspire employees to do better work. For this, they should be motivated. Here motivation means an activity which induces and inspires people to perform well in actual work floor. Motivation includes job specification, performance evaluation, reward and punishment, work performance, compensation management, discipline and so on. It is important for better work performance because high performance depends on both ability and motivation.
Maintenance is the last components of human resource management. it is concerned with the process of retaining the employees in the organization. This contributes towards keeping the employees who can do extremely better for the organization. This requires that the organization should provide additional facilities, safe working conditions, friendly work environment, and satisfactory labor relations. If these activities are performed in the right manner, we can expect to have capable and competent employees in the organization.